Multi-Generational Design: A Smart Residential Investment
Here are some surprising statistics that will affect the current housing market: 16% of Floridians have disabilities. That’s 2,675,000 individuals whose physical or mental capacity is less than perfect. At the same time, 10,000 baby boomers in America are turning 65 daily. The reality of these statistics will have an incredible impact on the housing market. You need to know how you can increase the value and marketability of your home and that of your loved ones.
Multi-Generational/Universal Design is the solution to aging in place now and will get you market attention later when you decide to sell. Creating a pro-active plan rather than responding to a health related need benefits not just your peace of mind but your real estate investment. The facts now tell us that in order to age in our homes, adjustments need to be made.
Multi-Generational (or Universal Design) creates an environment that is usable by people of all ages and abilities while still maintaining a pleasing aesthetic. There are many things you can do without a major investment that can make your home safer for everyone. Eliminate throw rugs that can cause a less-than-steady person to trip, add night lights to alleviate declining eye sight and change door knobs to lever handles. When the need includes accessibility in the kitchen or bath or entrance egress, that’s when an interior design professional needs to be engaged. Interior Designers understand codes, functions, and the appropriate use of the latest materials. A Designer can develop a solution which minimizes potential hazards while maintaining a pleasing aesthetic.
The investment payback for a Multi-Generational design is nearly 100%. Creating a space that postpones or eliminates the needs for additional caregivers is an instant return on investment. Assisted living facilities, nursing homes and in home care are more expensive than a remodeling investment. As the baby boomers look to down-size, they will be looking for homes with the same features that will allow them to age with dignity. Adjusting a home for multiple generations to live under one roof can only increase its value.
Meeting with a professional is best when determining the financing strategy for renovations. Reverse mortgages, home equity loans and lines of credit are all options. The VA even offers grants for structural alterations. Whichever option you choose, meeting with a professional Interior Designer will assure that your project will allow your home to be a home for all that live there. A sound investment with a happy return.